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过儿 · 2022年03月25日

这里不明白

NO.PZ2016031201000011

问题如下:

Compared with the underlying spot market, derivative markets are more likely to have:

选项:

A.

greater liquidity.

B.

higher transaction costs.

C.

higher capital requirements.

解释:

A is correct.

Derivative markets typically have greater liquidity than the underlying spot market as a result of the lower capital required to trade derivatives compared with the underlying. Derivatives also have lower transaction costs and lower capital requirements than the underlying.

B is incorrect because transaction costs for derivatives are lower than the underlying spot market. C is incorrect because derivatives markets have lower capital requirements than the underlying spot market.

中文解析:

A正确,衍生品市场通常比标的现货市场具有更大的流动性,因为交易衍生品所需的资本低于标的市场,衍生品的交易成本和资本要求也低于标的产品。B,C错误。

刚才有一题不是说有大宗商品的流动性也很好,未必比衍生品市场差。那么到底衍生品市场的流动性比spot market 好还是不好

1 个答案

Lucky_品职助教 · 2022年03月26日

嗨,从没放弃的小努力你好:


大宗商品在现实中更多是交易衍生品,比如林地,玉米,大豆,原油等,有些需要生长时间,有些需要耗费大量运输成本和存储空间,再或者像黄金,很难做到一手交钱一手交货的现货交易,而交易衍生品,基于对未来价格的预期,不仅可以long还可以short,也不需要实物交割,可以现金交割,流动性更大。下面是原版书截图,供同学阅读,同学在学习中遇到不明白的,也可以在原版书中搜一下关键词,只阅读对应段落,这样可以加深对知识点的印象哦~

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虽然现在很辛苦,但努力过的感觉真的很好,加油!